System, method, and computer program product for selecting and presenting financial products and services

ABSTRACT

An apparatus and method use client information to automatically select products appropriate for the client. According to one aspect of the invention, client information, information about the products, ancillary data, and decision criteria pertaining to selection from among the products are stored in a storage device Decision-making logic circuitry use the stored data to select the products. An output device prepares a client communication identifying the selected products and incorporates a portion of the client information and a portion of the product information into the client communication.

CROSS-REFERENCE TO RELATED APPLICATIONS

This application is a continuation application of application Ser. No.10/406,636, entitled “Method and Apparatus for Preparing ClientCommunications Involving Financial Products and Services,” filed Apr. 4,2003, which is a continuation-in-part application of application Ser.No. 09/592,086, entitled “Method and Apparatus for Preparing ClientCommunications Involving Financial Products and Services,” filed Jun.12, 2000, now U.S. Pat. No. 7,711,599, which is a continuationapplication of application Ser. No. 08/834,240, entitled “Method andApparatus for Preparing Client Communications Involving FinancialProducts and Services,” filed Apr. 15, 1997, now U.S. Pat. No.6,076,072, which is a continuation-in-part application of applicationSer. No. 08/661,004, entitled “Apparatus and Method for TransactingMarketing and Sales of Financial Products,” filed Jun. 10, 1996, nowU.S. Pat. No. 5,987,434, and assigned to the assignee of the presentapplication. The subject matter in the above-identified co-pending andcommonly owned applications is incorporated herein by reference.

BACKGROUND OF THE INVENTION

1. Field of the Invention

The present invention relates to apparatus and methods for marketingfinancial products such as individual insurance policies. Morespecifically, it relates to apparatus and methods for marketing suchproducts in a fully automated or significantly automated manner toachieve high volumes of transactions and sales in a short period oftime.

2. Description of the Related Art

Financial products such as life insurance products, health insuranceproducts, and the like traditionally have been marketed largely throughthe use of agents. The product providers, such as the insurancecompanies actually providing the insurance, rely upon the agents toperform a host of essential tasks to sell their products. The agents,for example, typically identify prospective clients (“prospects”) andcommunicate with these prospects to determine which of the variousfinancial products are appropriate for that individual. A “prospectiveclient” as used in this document refers to a person, company, or otherentity to whom a financial product has never before been sold by thesystem user of marketer, and an existing client of that user or marketerwhich has purchased financial products in the past and for which aclient record has been created in the client database as described morefully below. In a representative case, for example, the agent obtains alimited amount of basic or “lead” information about the prospectiveclient from which to initiate the marketing contact. In the case of amortgage insurance policy, for example, the agent may obtain the type ofinformation included in a recorded deed instrument, including thepotential client's name, address, age, and mortgage amount. From thislead information, the agent typically would prepare introductorymaterials, and contact the prospective client by telephone to solicit ameeting in the client's home or business. The agent then would meet withthe client and attempt to propose financial products most suitable forthe particular circumstances.

There have been several attempts in recent years to mass market termlife insurance products. A typical format would be as follows. Themarketer generally places ads directed to the general public whichprovide either an (800) telephone number or a return postcard. Througheither a return call from the prospective client or the return postcardfrom the prospective client, lead information is obtained, including thename, age, and smoker versus nonsmoker status of the client, and theamount of term insurance desired. From this lead information, themarketer selects from the term life insurance products available to it,the product with the lowest premium available to that client. In someinstances, the marketer may select several products offering lowpremiums and provide them to the client, for example, in table format,for selections by the client. The marketer then includes these productselections in a presentation letter which is sent to the prospectiveclient. The presentation letter typically will list as the addressee theclient, and it will provide the lead information at the introduction ofthe letter.

Regardless of the marketing techniques, gaining the consideration of theprospective client may require global follow-up in the form of multipleletters or other contacts, perhaps staged over a period of time selectedby the agent as appropriate for the circumstances. Over this timeperiod, the circumstances and needs of the prospective client may havechanged, perhaps in ways that are somewhat predictable based on theinitial lead information. For example, shortly after purchase of a newhome and recording of the mortgage, the new homeowner may have a cashflow shortage which limits the attractiveness of mortgage insurance.Perhaps one year later, however, after the family is settled in and thevarious expenses of new home ownership have been accommodated, thehomeowner may have a better cash flow situation and be far more inclinedto purchase this type of insurance. Therefore, a followup presentationletter a year or so after the initial home purchase would be very timelyand beneficial.

For those prospective clients who have responded to the presentationmaterials, the agent might seek additional client information, forexample, such as their marital status, whether they smoke, their generalhealth, etc. This would enable the agent to further refine or revisitthe financial products selected for consideration by that prospectiveclient. It hopefully results in the final selection of the particularproduct best suited for that client.

Upon approval by the prospective client, the agent or marketer thenprepares an application to the provider for the selected financialproduct. Depending upon the financial product involved, the agent may berequired to follow up, for example, by ordering medial reports, medicalexams, etc., for the provider or underwriter.

Marketing processes such as the ones described above have beensubstantially limited in that they require significant amounts of theagent's or an agent telemarketer's time and attention. Moreover, themarket for these products in terms of potential clients numbers in themillions per year. Each client has particularized circumstances andneeds, and these circumstances and needs typically vary over time. Thevariety of financial products, even for a given need, is substantial.Considering all of these factors, the volume of transactions that can beundertaken by a given agent or agent telemarketer is relatively limited.

Attempts have been made in the past to automate limited portions of thevarious marketing tasks. it is not uncommon, for example, for insurancemarketing organizations to maintain a database of potential clients andrelated client and prospective client information. Most insurancemarketing companies also maintain databases of insurance products andrelated pricing information.

There are some insurance marketing companies, for example, which usecomputer software to select a set of candidate financial products from alarger set of possible products based upon premium prices. Some of themass marketing organizations referred to above are examples.

In systems used by several mass marketers selling term life insurance,usually in conjunction with a telemarketer on the telephone, forexample, the agent or an assistant enters lead client information into acomputer, whereupon the software selects and displays the four or fiveterm insurance policies offering the desired level of coverage for thelowest premium cost. The client information, together with the selectedfinancial product information, then can be used to prepare introductorymaterials such as a presentation letter to the potential client, aspreviously described. The product selection and presentation letterpreparation are done automatically.

Such known automated systems, however, have been subject to a number ofimportant limitations and drawbacks. For example, they have been limitedlargely if not entirely to one of two major types (term of permanent) ofproduct, i.e., term life insurance. The ability of these softwaresystems to select from among alternative financial products has beenextremely primitive. In most instances, the ability of the system islimited to selections based solely or predominantly on the insurancepremium. They also typically require the attention of and interactionwith the agent or telemarketer to gather and input the lead clientinformation, and to aid in the selection of the most advantageousproducts for presentation to the client.

Another important drawback of such known systems is the limited extentto which they personalize the presentation letter or othercommunications. The presentation letter resulting from such systemsusually is a form letter which merely lists the client information atthe top of the letter, lists the product or products selected, andprovides a brief non-individualized description or explanation of theproduct. The extent to which the communications take into account theparticular circumstances and needs of the individual prospective clientincluding individualized explanations necessary to make an informeddecision about the highlighted products, has been extremely limited.

These known systems also are limited in their ability to process largevolumes of prospective client communications. This is attributable inlarge part to their requirement for human input and decision making as anecessary part of their operation, and because of the relativelyunsophisticated nature of the known system.

All of these methods and systems have been limited in that they requirea substantial amount of human involvement. This necessitates substantialcost for wages, salaries, benefits, etc., and it can increase thelikelihood of errors.

OBJECTS OF THE INVENTION

Accordingly, an object of the present invention is to provide anapparatus and method for transacting financial product marketing andsales which is capable of being highly automated.

Another object of the invention is to provide an apparatus and methodfor transacting financial product marketing and sales which is capableof processing relatively large volumes of client communicationsefficiently.

Another object of the invention is to provide an apparatus and methodfor transacting financial product marketing and sales which arerelatively cost effective compared to prior approaches. Another objectof the invention is to provide an apparatus and method for transactingfinancial product marketing and sales which are more personalized andindividualized to individual prospective clients relative to priorapproaches.

Additional objects and advantages of the invention will be set forth inthe description which follows, and in part will be apparent from thedescription, or may be learned by practice of the invention. The objectsand advantages of the invention may be realized and obtained by means ofthe instrumentalities and combinations pointed out in the appendedclaims.

SUMMARY OF THE INVENTION

To achieve the foregoing objects, and in accordance with the purposes ofthe invention as embodied and broadly described in this document, anapparatus and method for transacting financial product marketing andsales is provided. The apparatus and methods according to the inventionprovide a marked departure from known financial product marketing andsales systems, for example, in that they allow for the virtuallycomplete automation of the tasks traditionally performed by agents andtelemarketers in transacting such marketing and sales. Automatically,with little or no human intervention and with essentially no timedelays, they can analyze and evaluate client information, incorporateadditional information, determine and/or compare client needs withvarious available financial products to solve needs, select and/orrecommend products most appropriate for the individual needs of eachprospective client, and prepare personalized and individualizedcorrespondence specifically tailored for each individual prospect toeffectively communicate the information to the prospective client thathe or she needs to make and informed buying decision.

The apparatus according to one aspect of the invention uses clientinformation from a client to automatically select and present financialproducts appropriate for the client. The apparatus comprises means forinputting client information relevant to a need by the client for thefinancial products, for inputting information about the financialproducts, for inputting ancillary data which excludes the clientinformation and the financial products information, and for inputtingdecision criteria pertaining to selection from among the financialproducts. The apparatus further includes means for storing the A clientinformation, the financial products information, the ancillaryinformation, and the decision criteria. The apparatus still furtherincludes means for using the client information, the financial productsinformation, the ancillary information, and the decision criteria toselect a subset of the financial products. It further includes means forpreparing a client communication which identifies the subset of thefinancial products. The client communication preparing meansincorporates a portion of the client information and a portion of thefinancial products information into the client communication.

The method according to one aspect of the invention also uses clientinformation from a client to automatically select and present financialproducts appropriate for the client. The method comprises inputtingclient information relevant to a need by the client for the financialproducts, inputting information about the financial products, inputtingancillary data which excludes the client information and the financialproducts information, and inputting decision criteria pertaining toselection from among the financial products. The method also includesstoring the client information, the financial products information, theancillary information, and the decision criteria. This method furtherincludes using the client information, the financial productsinformation, the ancillary information, and the decision criteria toselect a subset of the financial products. It further includes preparinga client communication which identifies the subset of the financialproducts. This client communication preparing step includesincorporating a portion of the client information and a portion of thefinancial products information into the client communication.

BRIEF DESCRIPTION OF THE DRAWINGS

The accompanying drawings, which are incorporated in and constitute apart of the specification, illustrate a presently preferred embodimentand a presently preferred method of the invention. These drawings,together with the general description given above and the detaileddescription of the preferred embodiment and method given below, serve toexplain the principles of the invention.

FIG. 1 is a hardware block diagram of the preferred embodiment of theinvention;

FIG. 2 is a flow chart diagram illustrating the preferred embodiment andmethod of the invention;

FIG. 3 provides an illustrative main menu for the system depicted inFIG. 2;

FIG. 4 is a flow chart diagram illustrating the data input module of thepreferred embodiment and method of the invention;

FIG. 5 is a flow chart diagram illustrating the Virtual Agent™ module ofthe preferred embodiment and method of the invention;

FIG. 6. is a flow chart diagram illustrating a specific example of theorganization and flow of the Virtual Agent™ module specificallypertaining to a individual mortgage life insurance program;

FIG. 7. is a flow chart diagram illustrating another specific example ofthe organization and flow of the Virtual Agent™ module specificallypertaining to a individual mortgage life insurance program;

FIG. 8. is a flow chart diagram illustrating a specific example of theorganization and flow of the Virtual Agent™ module specificallypertaining to a individual mortgage life insurance program;

FIG. 9. is a flow chart diagram illustrating a specific example of theorganization and flow of the Virtual Agent™ module specificallypertaining to a basic individual life insurance program;

FIG. 10. a flow chart diagram illustrating the organization and flow ofthe sales presentation and output module of the preferred embodiment andmethod as depicted in FIG. 2.;

FIG. 11. is a flow chart diagram illustrating the organization and flowof the production and scheduling module of the preferred embodiment andmethod as depicted in FIG. 2.;

FIG. 12. is a flow chart diagram illustrating the organization and flowof the sales and financial report and analysis module of the preferredembodiment and method as depicted in FIG. 2.;

FIG. 13. is a flow chart diagram illustrating the organization and flowof the telemarketing module of the preferred embodiment and method asdepicted in FIG. 2.; and

FIG. 14. is a flow chart diagram illustrating the organization and flowof the automated agency and new business processing module of thepreferred embodiment and method as depicted in FIG. 2.

DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENT AND METHOD

Reference will now be made in detail to the presently preferredembodiment and method of the invention as illustrated in theaccompanying drawings, in which like reference characters designate likeor corresponding parts throughout the drawings.

The presently preferred embodiment of the invention comprises anapparatus and method for transacting the marketing and sales offinancial products. Financial products as the term is used in thisdocument refers to insurance products such as individual life insuranceof all types, tax deferred annuities of all types, health insurance ofall types, and the like. Financial products, however, also may includeother forms of financial instruments.

For purposes of illustration and not by way of limitation, the financialproducts discussed in this document in connection with the preferredembodiment and preferred method comprise individual insurance products,such as individual life insurance and health insurance. Examples of lifeinsurance would include individual term and permanent life insuranceinstruments such as whole life, universal life, level and decreasingterm life insurance, and the like. It is to be understood, however, thatthe invention is not necessarily limited to these products.

A presently preferred embodiment of the apparatus according to theinvention is illustrated in FIG. 1. This embodiment comprises a computersystem using a networked client-server database system architecture witha number of computer nodes or computer workstations. A network server 10is shown in FIG. 1. S Computer workstation nodes would be very similarlyconfigured. In addition to the server and workstation nodes, systemnodes also may include output devices, such as laser printers (notshown). Each of the individual computer workstations or nodes within thesystem includes a processor 12, a display 14, a keyboard 16, a mouse 22,light pen, or similar pointing device 18, a modem 20, a tape drive 22,and a bar code reader 24.

The processor of each computer node (server or workstation) includes acentral processing unit (CPU) 26, random access memory (RAM) 28, and atleast one mass storage device 30. The design and configuration of CPU 26is not limiting, and may include any of the CPU designs sold as standardcomponents with high-end IBM-compatible personal computers or businessmachines. Such processors include Pentium™ processors from Intel Corp.,Santa Clara, Calif., Power PC processors from IBM Corp., and theirsubstantial equivalents, preferably with at least 16 megabytes of RAMand a hard drive with at least about 500 megabytes of storage capacity.The capability and speed of CPU 26 will depend upon the specificapplication to which the apparatus is to be put, the volume of data tobe handled, etc. In the preferred embodiment of FIG. 1, the CPU of theprincipal server comprises a 100 MHz Pentium-based processor with 32megabytes of RAM and a 2 gigabyte hard drive. The CPUs of the networkworkstations comprise 90 to 100 MHz Pentium-based processors with atleast about 16 MHz of RAM and at least about 500 megabytes of hard diskstorage capacity.

Display 14 should be compatible with the processor, and preferablyshould have a resolution of at least about 800×600 pixels. Other thanthese requirements, many commercially-available Super VGA monitors wouldsuffice.

Keyboard 16 is a standard IBM PC-compatible keyboard which is compatiblewith the processors. Keyboard 16 comprises a means for the system userto selectively input information, decisional criteria, moduleinstructions, and the like into the system where manual input is calledfor.

The mouse, light pen, track ball or similar pointing device 18 is usedto navigate the graphical user interface of the system, which isdesigned to increase the ease of use of the system, as will be describedmore fully below. It also comprises means for inputting information intothe system, particularly where graphical interface environments are usedin implementation. These devices may be obtained fromcommercially-available sources as off-the-shelf components.

Modem 20 is used for communicating with computer systems remotely fromprocessor. The design of modem 20 also is not limiting, and its specificdesign will depend upon the design of processor, the design andconfiguration of the computer or computers to be communicated with, andsimilar generally known factors in a given application. In the preferredembodiment of FIG. 1, modem 20 comprises a 28.8 baud modem which iscompatible with processor, such as the Model Sportster 28.8,commercially available from U.S. Robotics Inc.

Tape drive 22 is optional, but may be used for inputting bulk files andlists, as described in greater detail below. The specific design andconfiguration of tape drive 22 also will depend to a large extent on thedesign and configuration of other system components, and on theparticulars of the application. In the preferred embodiment of FIG. 1,tape drive 22 comprises a high-capacity digital tape device which may beobtained as an off-the-shelf component from commercial suppliers.

Bar code readers may be used to speed manual input of data and also torecord responses and other correspondence from prospective clients: Theyshould be industry-standard readers capable of reading the major barcode formats, such as Code-39 bar codes, and inputting the scannedinformation to processor. An optical scanner also may be provided as anoptional input device, as described in greater detail below.

In accordance with the preferred embodiment and the preferred method ofthe invention, processor 10 has resident within its memory systemcomputer software, a flow diagram of which is shown in FIG. 2. Thesoftware has a “core” system for transacting financial productmarketing, and an “administrative and support” system for supporting thecore system, facilitating the marketing program, providingadministrative and management reports and functions, and preferringother tasks. The core system includes a plurality of modules, includinga data input module, a database module, a Virtual Agent™ module; and asales presentation and output module. The administrative and supportsystem includes a production and scheduling module, a sales andfinancial report and analysis module, a telemarketing module, acommunications interface module, and an automated agency and newbusiness processing module. Each of these systems and modules will bedescribed in greater detail below.

The Data Input Module

The data input module performs tasks related to inputting prospectiveclient information into the system. The types of prospective clientinformation to be inputted will vary, depending, for example, on thetypes of plans and products involved, the types of prospective clientinformation available, etc. Typical examples for individual lifeinsurance might include the prospective clients name, address includingzip code, age, and whether he or she smokes. Where individual mortgagelife insurance is involved, the available, prospective clientinformation may include only name or names on the mortgage loan,address, mortgage date, and mortgage amount.

Product-related information also would be entered into the system.Examples of this type of data or information would includeproduct-related descriptions, issue constraints, product prices, etc.Ancillary data also may be entered into the system using the inputmodule. Such ancillary data would include virtually any type of data orinformation useful for the system in performing its intended function,but by definition excluding client information about specific clientsand product-related information about products potentially presentableby the system. Examples of such ancillary data or information wouldinclude statistical information, geo-code data, and the like.

The means of inputting may vary depending on the format in which theinformation is available. With reference to FIG. 1, for example,information may be directly entered using keyboard 16. Diskette drives(not shown), for example, as would come a standard equipment with thetypes of processors noted above also my be used. In some instances, bulklists of client records may be available by tape, in which case in whichcase tape drive 22 may be used. Some records are available onnon-resident date bases. This is increasingly the case as onlinenetworks such as the Internet gain widespread use and acceptance.. Insuch instances, prospective client information may be received via modem20.

In accordance with the preferred embodiment and method, an example of amain menu for the system is shown in FIG. 3. This menu includes aplurality of buttons corresponding to the modules of the system asdepicted in FIG. 2.

An example of the organization and task flow of the data input moduleshown in FIG. 4. As noted above, data may be entered manually orautomatically.

For example, information may be entered using scanning technologies. Forexample, bar codes may be used on advertisements, information cards andother documentation. Scanners such as those commercially available foruse with processor 12 may be used to read the bar coded information.Similarly, an optical scanner may be used to scan an entire page ordocument, and standard image processing software may be used to readinformation from the scanned client information from the scanned input.

The invention is not, however, limited to these input modes, and othersmay be used. For example, as voice recognition technology develops,there very well may be the ability to input client information merely byvoicing that information into a voice recognition device, which wouldtranslate the voice information into digital client data.

The task of automatically or semi-automatically performing the functionsof an agent in marketing and selling financial products generally willrequire that the system receive or gather on its own essentially thesame client information that would be made available to an agent. For agiven potential client, the system is adapted to retrieve clientinformation and, depending upon the circumstances, other information aswell. Inherent advantages of using an automated environment to undertakethese tasks is the tremendous speed with which computers can retrieve,process and store large volumes of information.

The data input module of this embodiment and method inputs data into thesystem from one or more of the input devices for the system, such asmodem 20, tape drive 22, or barcode reader 24. The details of the datainput module will depend to a certain extent upon the type of data to beinput. For example, input data for a set of potential mortgage insuranceclients might include the mortgagee's name, the address of the mortgagedproperty, and the amount of the mortgage. Input data for potential lifeinsurance clients might include the name, address, age, and maritalstatus of each potential client.

With further reference to FIG. 4, as data is imputed, the data inputmodule stores it in a temporary storage area within processor 12. Ifnecessary or appropriate, the data is converted to a format compatiblewith the system. For example, as is known in the database arts, it issometimes necessary to import or export files to convert one databaseformat to pre-defined database structure. In this embodiment, the datainput module also may tag and identify client records as they areinputted, and perform general and routine “house keeping” tasks on thedata. Once these tasks have been performed by the data input module, theproperly-formatted client information is transferred to the databasemodule. In the preferred embodiment, the database module comprises arelational database essentially equivalent to commercially-availabledatabase packages.

The Database Module

The database module stores client information for general use by thesystem, as explained more fully below. The database stores clientinformation so that each client is represented by a record in thedatabase, and the various items of information to a given client arecontained within fields under the record for that client. Examples ofthe structure and contents of a client database for life insurance, forexample, may include the following fields:

-   -   Name    -   Address (including zip code)    -   Age    -   Tobacco user v. non-tobacco user    -   Marital Status    -   General Health

The contents of a representative client database record for marketing ofindividual mortgage life insurance may include the following:

Borrower Co-Borrower Name Name Address Address (including zip code)(including zip code) Age Age Tobacco user v. non-tobacco user Tobaccouser v. non- tobacco user Marital Status Marital Status General HealthGeneral HealthThe database module also includes information other than clientinformation. For example, this module typically would include a listingof the financial products. This information typically would include notonly the identification of the product, but information about pricingand “issue constraints” for the product. Issue constraints as used hererefers to limitations on the availability of the product, e.g., agerange constraints, amount constraints, and so forth. The product-relateddatabase also may include descriptions and explanations of the products.This will be explained in greater detail in connection with the salespresentation and output module.

The Virtual Agent™ Module

The Virtual Agent™ module uses client information and its own decisionlogic as described more fully below to select the plan or plans and thefinancial product or products which best meet a specified set ofdecision criteria. The Virtual Agent™ module embodiment and method alsois designed to perform many of the analytical and decision making tasksthat would normally be performed by an agent. This would include, forexample, but is not limited to analyzing the particular circumstances,and demographics of each client, analyzing a variety of plans andfinancial products which are calculated to meet the needs of the client,and applying decision making criteria to select from among those plansand products the ones most suitable for the client based on the decisionmaking criteria. Within these general guidelines, however, the VirtualAgent™ module provides tremendous flexibility. It may be adapted, forexample, to handle a wide variety of classes of financial products, suchas term life insurance, permanent life insurance, combinations of termand permanent life insurance, health insurances, disability insurances,long term care insurances, and the like. The Virtual Agent™ module canaccommodate any type of client information that can be incorporated intothe client database. In addition, the Virtual Agent™ module has greatflexibility in the specific analytical and decision making methods andprocedures used. Specific yet nearly illustrative examples are providedbelow.

A flow chart depicting the general organization and logic flow of theVirtual Agent™ module for the preferred embodiment and method ispresented in FIG. 5. Note, however, that steps D through I of FIG. 5need not necessarily be carried out in the order shown. The VirtualAgent™ module flow process retrieves or otherwise receives clientinformation from the database module and from other areas of the system.The Virtual Agent™ module is described herein as processing data filessequentially, one record at a time. This is not necessarily limiting.For example, the Virtual Agent™ module may be configured so that itprocesses more than one record at a time through such generally knownapproaches as multi-tasking or parallel processing.

The type of information retrieved by the Virtual Agent™ module willdepend upon the type of analysis under consideration, and for which thesystem has been adapted. Illustrative examples of such input data isdescribed above with reference to the data input module.

In Step B of Virtual Agent™ module processing according to thisembodiment and method, the Virtual Agent™ module retrieves the set ofanalysis instructions and decision making criteria to be used inprocessing the retrieved set of client records. Examples of theseanalytical instructions and decision making criteria will be presentedbelow.

In Step C of Virtual Agent™ module processing according to thisembodiment and method, the Virtual Agent™ module retrieves or otherwisereceives a set of client records from the client database. Depending onthe particular application, the Virtual Agent™ module may undertake somepre-sorting or other manipulation of the client information prior to theprincipal analysis of it. For example, there may be categories or itemsof information within a given a client record that are not utilized inthe analysis and decision making procedures to be undertaken by theVirtual Agent™ module in that application. Therefore, it may beappropriate to modify the retrieved client records to eliminate suchcategories or items before further processing in undertaken in theVirtual Agent™ module.

In Step D of Virtual Agent™ module processing according to thisembodiment and method, the module identifies, evaluates and analyzes theneeds of the client among other reasons for plan(s) and product(s)selection of a given type. For example, in the context of individualmortgage life insurance, the client would want to pay off the loan inthe event of the mortgagee's death.

In Step E of Virtual Agent™ module, the module analyzes the customerinformation for that record, including demographic information.

In Step F of Virtual Agent™ module processing, the module uses theanalyzed client information and applies it against the decision makingcriteria.

To illustrate the types of decision making procedures and criteria whichmay be embodied in the Virtual Agent™ module, we will continue to usethe example of individual mortgage life insurance. Pursuant to theexample, assume that each client record includes the address of theproperty subject to the mortgage, the amount of the mortgage, themonthly mortgage payments and the following information for eachborrower and co-borrower: Name, age, and gender. As part of theanalytical and decision making criteria information retrieved by theVirtual Agent™ module, a set of scenarios are provided forcharacterizing the client and the surrounding circumstances.Illustrative examples of the scenarios would include the following:

-   -   Scenario 1: Single individual borrower.    -   Scenario 2: Two borrowers of different gender, which may include        a husband and wife, business partners, etc.    -   Scenario 3: Two borrowers of the same gender, which may include        a parent and child, siblings, business partners, gay partners,        etc.

As part of the retrieved decision making criteria, the Virtual Agent™module would retrieve the information depicted graphically in FIGS. 6-8.If the client record under consideration reflected a single borrower,the Virtual Agent™ module would employ the decision making criteriareflected in FIG. 6. According to those criteria, the Virtual Agent™module would determine which of three mutually exclusive categories themortgage falls based on the loan amount. In this example, loan amountsof at least $ 10,000 but less than $ 50,000 would fall into category A.Loan amounts of at least fifty thousand dollars but less than onehundred thousand dollars would fall into category B, whereas loanamounts of at least one hundred thousand dollars would fall intocategory C. At a second level of decision making, the age of theborrower would be considered. For borrowers in category A between theages of twenty (20) and sixty-five (65), the Virtual Agent™ module wouldselect product package number 1 (P1), which includes three alternativeplans, i.e., plan A, plan B, or plan C, as described in the box forpackage P1 in FIG. 6. Note that for any age or mortgage loan amountsoutside the ranges indicated in FIG. 6. no proposal would be madebecause of issue constraints.

To the extent the client record falls into category B based on loanamount, the agent borrower similarly would be used to further categorizethe record. In this illustrative example, category is segregated intotwo age categories, i.e., B1 and B2. Category B1 includes borrower of atleast twenty (20) but less and fifty (50). Category B2 includes agesgreater than fifty (50) but less than sixty-five (65). Those recordsqualifying under category B1 would result in the proposal of a packageP2. This package P2 would include three optional proposals, as describedin the box for package P2 in FIG. 6.

For category B2, a package P3 would be proposed. Package P3 similarlyincludes three optional plans, as described in the box for package _3 inFIG. 6.

For those records falling within category C, i.e., involving loanamounts of at least 100,000, package P3 would be proposed. Also underStep F of FIG. 5, the Virtual Agent™ module would analyze each clientrecord to recognize scenario # 2, i.e., two borrowers of differentgender. The decision making criteria and processing undertaken forrecords qualifying under scenario # 2 is depicted in FIG. 7. Processingunder this scenario would be very similar to that described above withregard to FIG. 6. At the initial level, each record would be categorizedbased on loan amount. Segregation at a second level would occur based onage of the first or principal borrowers

Similarly to FIG. 6, those clients qualifying under scenario # 2 andfalling within category A1 would be proposed a package P1 which includesthree optional plans, i.e., A, B and C. A package P2 would be proposedto those clients qualifying under category B1 in FIG. 7. For thoseclients qualifying under category B2, a package P3 would be proposed.For those clients qualifying under category B3 of FIG. 7, a package P4would be proposed. For clients qualifying under category C1, package P5would be proposed. For those clients qualifying under category C2, apackage P6 would be proposed.

Where the client record indicates there are two borrowers. of the samegender, scenario # 3 would be implicated. The decision making criteriaand processing for this illustrative example is shown in FIG. 8, whichfollows the same logic and processing of FIGS. 6 and 7. In Step F of theVirtual Agent™ module flow depicted in FIG. 5, the module decides on thenumber and types of plans to be proposed to the client. This decision isbased upon the insurance needs of the clients as identified in Step Dabove, on the client information in the client record, and possibly onother information such as demographic information, geo-codinginformation, etc. This step involves making an informed intelligentdecision regarding the possible solution or solutions to the productneeds of the customer. Factors which may be considered by the module inthis selection process may include the client demographic information(e.g. age, gender, tobacco usage, and occupation) mortgage information,financial information such as income, marital information, existingpolicy information, family-related information, and other factorsselected by the system user and incorporated into the Virtual Agent™module decision making criteria.

In Step G of the Virtual Agent™ module flow of FIG. 5, the moduleselects the product or products which satisfy the decision makingcriteria being employed in the module. Under this Step G, the VirtualAgent™ module draws from the available product pool the most appropriateproduct to fit each plan selected as a candidate in Step D. Preferablythe Virtual Agent™ module has the ability to select from a large numberof products and product providers. In performing this Step E the VirtualAgent™ module may take into consideration factors such as: the premiumfor the product, the compensation paid to the system user or otherprovider including primary and secondary compensation, legal issues,underwriting requirements, demographic information pertaining to theclient, and the net cost of premiums over a specified period of time. Asto legal issues, all local, state, and federal laws regarding insurancesales, for example, and additional constraints imposed by productproviders may be considered.

In this illustrative example, two methodologies may be employed forselecting the product, i.e., a product and/or product provider-specificmethodology and a “best policy” analysis methodology. Both of thesemethodologies taken to account the information from Steps D, E, and F.The first methodology considers each of the various factors which may beused to evaluate the attractiveness of that product for the particularclient. Such factors considered by the Virtual Agent™ module may includethe premiums, issue constraints, compensation paid to the system user,product provider, etc., and underwriting requirement.

The “best policy” methodology evaluates and analyzes a potentially largenumber of product providers and products which best meet a specified setof criteria, for example, by picking the product having the lowestpremium for the client.

In Step I of Virtual Agent™ module processing according to thisembodiment and method, the module analyzes the past or currentperformance on a real-time basis of various sale programs. It identifieson a real-time basis who is buying on any geographic or any demographicbasis. This step involves determining what the individual client is mostlikely to buy, making the end users aware of that fact, recommendingchanges, and if given permission, or appropriately coded, automaticallyimplementing the changes, which may occur even during the running of themodule.

To better illustrate the organization, operation and flow of the VirtualAgent™ module, another example, i.e., one involving the logic associatedwith the marketing of life insurance, will now be explained withreference to FIG. 9. Step C, D, E, . . . of FIG. 9 correspond to StepsC, D, E, . . . respectively, of FIG. 5. In Step C, the Virtual Agent™module retrieves a client record for analysis.

In Step D, the module identifies the insurance need for the client,e.g., to replace lost income.

In Step E, the module analyzes and evaluates client information for thisclient, including all pertinent client demographics available to thesystem. The system also may retrieve and use additional demographicdata, for example from a geo-coding module.

The database module of this preferred embodiment includes a geo-codingmodule which includes geo-coding data. This geo-coding data can beorganized by zip code and includes statistical information regardinglocation, average income, average education, average property values andthe like within that zip code area. It can obtain in real-time any fieldof demographic information for use contained within the United Statescensus.

In this illustrative example shown in FIG. 9, Step F involvessegregating client records by annual income. For client recordsreflecting an annual income of less than one hundred thousand dollars,processing continues along a path F1. For client records reflecting anannual income of at least one hundred thousand dollars, processingproceeds along a path F2.

In Step G of FIG. 9, clients falling under category F1 are offered twooptional term insurance plans, depending on the age of the perspectiveclient. For those clients having an income of less than one hundredthousand (path F1), two term insurance plans would be proposed, butspecifically which two would depend upon the age of the client. Forclients at least twenty (20) years old but younger than fifty (50)years, their choices would include a 15 year term policy and a 20 yearterm policy. For clients aged at least fifty (50) but less than sixty,the choices would include a 10 year term policy and a 15 year termpolicy. For clients older than sixty (60) but not over sixty-nine (69),the two choices would include a 5 year term policy and a 10 year termpolicy. In each of these instances, three separate coverage amounts foreach of the two policies proposed would be presented.

In this illustrative example, the system user may select between anOption A and a Option B. Under Option A, only specified products and/orspecific product providers may be considered. Under Option B, a varietyof products and product providers may be considered in selecting theappropriate plans and products for selection.

In Step H of the Virtual Agent™ module flow of FIG. 5, the moduleselects a specific amount or amounts of coverage to propose under eachplan. This decision is based on the information as compile in Step D, E,F and G as described above.

These three coverage amounts are determined by multiplying the annualincome by a multiplier and rounding (e.g., to the nearest $ 5,000 or $10,000). The multiplier for path F1 would be 1.0, 2.5 and 5.0 for planA, B and C, respectively.

For those clients have annual incomes in excess of at least one hundredthousand dollars (path F2), the Virtual Agent™ module optionallyproposes two term insurance plans and one cash value insurance plan. Thespecific plan again depend on the age of the client among other things.For clients at least twenty (20) but less than fifty (50) years old, thechoices include a twenty year term policy, a 15 year term policy, and auniversal life policy. For clients at least fifty (50) but no more thansixty (60), the choices include a 10 year term policy, a fifteen yearterm policy, and a universal life policy. For clients older than sixty(60) but less than sixty-nine (69), the choices proposed are a 5 yearterm policy, a 10 year term policy, and a universal life policy. In thisexample the Virtual Agent™ module also selects an amount of coveragebased on income. Specifically, five alternative levels of coverage areproposed corresponding to annual income multipliers of 1.0, 2.5 and 5.0respectively.

Sales Presentation and Output Module

The sales presentation and output module (“output module”) uses theinformation obtained from the Virtual Agent™ module and optionally fromother sources to generate, design, individualize and particularize allof the client communications. Presentation letters, followup letters,and reminders would be examples of such client communications. Theoutput module automatically prepares and outputs a client communication,for example, in a form of a presentation letter, which providesinformation sufficient to enable the client to make informed,intelligent decision regarding the purchase of the plans or productsselected by the Virtual Agent™ module. The Virtual Agent™ module createsthese client communications in a manner using a format whichpersonalizes and individualizes the information presented to the client.

This output module does not merely insert client information in theheader of the client communication, nor does it merely import productinformation from the generic product information directly from theproduct-related database into the communication. The output moduleinstead selectively uses substantial portions of client information,product information, and in many instances other information as well togenerate a particularized communication tailored to the particularclient for whom the communication is to be sent.

Client communications generation involves organizing, formatting andoutputting client communications using information received generallyfrom the Virtual Agent™ module. As explained, the Virtual Agent™ moduleuses client information, information about available financial products,and perhaps other available information to recommend products, plans,and the like specifically tailored to each client. The output moduleallows the system user to define a particularized communication formatfor classes of customers, such as for potential individual mortgageinsurance clients. It then generates highly individualizedcommunications specifically tailored to present that client withindividualized plan and product presentations, reminders, followup, etc.

The output module is adapted to present its output in a variety offorms. For example, the output can be displayed on display 14 for visualinspection by the system user, or client, etc. The output also may be inthe form of a printed letter or document using a printer such as a laserprinter. It may be in the form of an automated document or data file orboth, and it also may be in a form suitable for transmission, forexample, over modem 20 or to a network, with or without simultaneousvideo conferencing.

The particular format of client communication outputs will depend uponthe specific circumstances, such as client demographics, plans andproducts offered, and marketing objectives of the particularapplication. An Example of a presentation letter prepared using thepreferred system and method and employing the individual mortgage lifeinsurance program outlined using a procedure essentially as describedabove with respect to FIGS. 6-8 is attached as Appendix 1. An example ofa presentation letter prepared using the preferred system and method andemploying the individual life insurance program outlined using theprocedure essentially as discussed above with respect to FIG. 9 isattached as Appendix 2.

FIG. 10 presents an illustrative flow chart diagram of the logic flow ofthe output module for the preferred embodiment and the preferred method.In Step A of FIG. 10, the output module retrieves work to be performedfrom other parts of the system. For example, after a set of records hasbeen processed with the Virtual Agent™ module as described above, theoutput module would retrieve those files and store them in temporarymemory locations so that a presentation letter, for example, can beprepared for each client record.

As part of Step A, the output module retrieves instructions which wouldbe used in preparing the presentation letter or other communicationsoutput. The specific nature and content of these instructions willdepend upon the specific type of presentation to be made and thespecific format for the presentation. The specific examples to bepresented below also provide a description and explanation of the typesof the instructions used by the output module in preparingcommunications.

In Step B of FIG. 10, client files are grouped by user, or by the salesprogram to be used, or by other criteria specified by the system user.Grouping criteria preferably would be selected by the system user duringa setup phase, and would remain unchanged indefinitely until a differentset of grouping criteria is desired.

The processing of a set of client records to generate and output acorresponding set of presentation letters or other communicationsprimarily takes place between Step C and F of FIG. 10. More specificallyin Step C the output module receives a client record for processing. InStep D, the output module analyzes and evaluates the client informationfrom the client record, the corresponding output from the Virtual Agent™module for that client record, and other data or information needed toconstruct the communication. Other forms of data or information whichmight be retrieved at this point could include geo-coding data,demographic data, and the like.

In Step E, the output module uses the instructions for preparation ofthe communication, together with the data and information from Step D,to prepare the presentation or other communication. The specific mannerin which the instructions and the information are used to construct thepresentation will vary depending upon the application, the specificationof the system user and other factors. To better understand andappreciate this aspect of the invention, however, we will refer to thepresentation letter attached hereto as Appendix 1, which is a samplepresentation letter presenting individual mortgage life insurance.

The sample presentation format used for this letter includes eightsections. Each section may or may not use information variables andinsertion logic to construct the text or presentation of the section,and decisional logic may or may not be employed to determine what if anystates the variable is to assume. In other words, the instructionsand/or decision logic may be employed in various places throughout asection and throughout the entire communication to adapt thecommunication to the particular circumstances of the client. Thefollowing discussion will provide more concrete examples of thesefeatures.

The output module may include any one or any combination of at leastfour types of logic or variables, including (1) customer informationlogic, (2) words/paragraphs/sentence logic, (3) product/plan/amount ofcoverage/payment mode/underwriting logic, and (4) pricing logic. Logicor variable, as referred to herein, may involve the placement of aparticular word, number, phase, or item of information in a particularplace within the communication. Insertion of such items within a blankspace in a sentence would be an example. Customer information logicrefers to the place of the selective placement of client information ina particular location, blank space, or gap in a communication.Words/Paragraphs/Sentence Logic (“Word Logic”) refers to the insertionof Words, Paragraphs, Sentence etc. other than client information,product type and related information and pricing information, which isselectively placed in a specific location, blank space or gap in thecommunication. Products/Plans/Amount of Coverage/PaymentMode/Underwriting Logic (“Product Logic”) refers to informationpertaining to any of these topics, which is to be placed in particularlocation, blank space or gap in the communication. Pricing Logic refersto pricing information that refers to the product, which is to bepositioned in a particular location, blank space or gap in the document.

The purpose and function of each of the illustrative sections as createdby the output module will now be outlined and discussed.

Section 1 describes the “need” for the proposed product and why theproposal or offer is being made to the client. In the individualmortgage life insurance application, the need is straightforward, i.e.,to provide funds to pay the mortgage or liquidate it upon the death ofthe mortgagee so the family may retain ownership of the home without theburden of a mortgage. In the individual life insurance application, theneed may be less apparent because there are so many individual uses ofthe product, a prime example of which is replacement of lost income.

In terms of variables, in this section, for example, the client name,address, the loan number and the loan amount constitute customerinformation logic gleamed from the client record. The entry at the topof the letter at “Co-Mortgager” as well as the name of the company ofthe third paragraph of the letter constitute word logic. The mortgageloan amount in the fourth paragraph of the letter again constitutescustomer information logic.

Section 2 of the sample form presentation output presents proposedsolutions to the need. This usually involves identifying and presentingalternative plan(s) or financial product(s) to meet the need, andfactors such as the provider, coverage and price particular to each planand product. Referring again to Appendix 1, most of section 2 comprisesproduct logic and pricing logic. The boxed portion in which the clientmay select the desired plan also includes product logic, for example, inthat not all product proposals will include the same plans as has beendemonstrated in the examples shown above. Much of the informationpresented in the footnote supplementing the product presentationinvolves word logic, but customer logic (e.g., personal informationabout the client), product logic, and pricing logic also appear in thisfootnote material. The footnotes both front and back are highlyindividualized throughout.

In the case of individual life insurance, the proposed plans may includevarious plans which include term insurance products, and permanentinsurance plans such as whole life, universal life, and the like.

Section 3 of the sample presentation format of Appendix 1 explains thevarious products selected by the Virtual Agent™ module for presentationto the client in this presentation. This section may include word logicand product logic, for example, in that is may provide alternativedescriptions, explanations, even different tone of writing depending onsuch things as the age of the client.

Section 4 of the sample presentation format of Appendix 1 explains eachplan utilized and selected by the Virtual Agent™ module. This sectiontypically would include word logic and product logic in that thedescription would change for the various products and classes of thevarious plans and products. The description of plans will vary with theplan selected. In addition, for a given plan the explanation may changeto more particularly addressed a given client or class of clients. Forexample, the explanation provided to a client in the twenty (20) toforty (40) year old category may differ from the explanation from forthe same product provided to a client in the sixty-five (65) tosixty-nine (69) year old range. Similarly, the explanation for a singlemale may differ for a given product from the explanation provided forthe same products to a married couple.

Incidentally the location of the various sections as described hereinwould not necessarily appear sequentially, e.g., section 1, 2, 3, . . .The order may be changed or mixed, and information from one section maybe intermingled or interposed with information from another section orsections. Sections and what is contained therein also may be subject tochange frequently.

Section 5 of the sample presentation format explains to the client ifthere are requirements to qualify for a particular plan presented, ifany. These requirements will be listed in this section 5 (if the planrequires such based on among other things, amount of insurance, age,etc.) if it is necessary to qualify with more than just the standardapplication presented to the client. Much of the logic here centersaround Plan/Product/Amount of Coverage/Underwriting Logic, etc., andword and client information logic.

Section 6 of the sample presentation format explains in clear, conciseand individualized terms how to obtain the coverage. This sectiontypically will include customer logic in personalizing the presentation,e.g., by inserting the clients name in various places in the text, andproduct logic in explaining the requirements specific to a particularproduct(s).

Section 7 of the sample presentation format presents, in question andanswer format, for example, important information and commonly askedquestions regarding the plans and products shown in the presentation.This section typically would include word logic, e.g., to refer to thesystem user or product marketer. It also may include customerinformation logic, e.g., to refer to specific circumstances which thecustomer may encounter.

Section 8 of the sample presentation format is variable in nature, andmay be customized for a given application, product set, system user,etc. It may, for example, provide information on how to obtainadditional information, help with application forms, additional pricequotes, etc. Given its customized format it may include any of the logicforms as variables.

Through designation by the system user in interaction with the system,the output module creates the format to be used, the specificinformation to be included within the format, and the specific locationsin the output format where the specific items of information will beused. It also formats all sections to be easy to read and highlyorganized, no matter what amount of information is contained in theoutput.

In accordance with the preferred method, all sales presentation outputsent to the client is accompanied by an application for the financialproduct, together with an envelope or other means to facilitate return.For example, presentation letters would be accompanied by a applicationfor the products presented therein with a return envelope. This alsocould include electronic communication forms, such as by return e-mail,etc. This effectively results in a one-step sales process for any or allsales programs and products marketed by the system.

The Administrative and Support System

Turning now to the administrative and support system as illustrated inFIG. 2, the various modules of this system are intended to providesupport functions for the Core System modules. In addition, they includemanagement and administrative support modules to aid management in thesystem, including operation of the core system, scheduling offollow-ups, future communications, etc., with little or no need forhuman involvement.

The Production and Scheduling Module

The production and scheduling module automates scheduling of marketingsales, preparing budgets, and the like. A flow diagram outlining thelogical organization and flow of the production and scheduling module asshown in FIG. 11.

In Step A of FIG. 11, the production and scheduling module accepts,stores and allows for future modification instructions for systemuser(s), and for all sales programs for which the system user willutilize the system. Future add-on sales programs can be easily accepted.

As shown in Step B of FIG. 11, the production and scheduling moduleanalyzes and evaluates the jobs which are to be performed by the system.This is done on a daily basis. With this information as an input, theproduction and scheduling module schedules operation of the core systemand instructs the system to operate accordingly, as indicated in Step C.In the course of this scheduling and the instruction, the production andscheduling module operates according to a set of predetermined criteriato determine the ordering and scheduling of the system operation and jobperformance.

As jobs are completed, scheduling module causes that fact to be recordedin each of the client records for which processing has been successfullycompleted. This is indicated in Step E of FIG. 11.

As an administrative support role, the production and scheduling moduleis capable of generating hard copy, readable, production reports, e.g.,on a daily basis, as indicated in Step F. of FIG. 11. Production reportsmay be useful for system users and operators, for example, forallocating and providing sufficient supplies, paper, toner, etc. Thesystem also is capable of generating management reports which can aidmanagement in activity planning, resource allocation, budgeting, etc.

The production and scheduling module also is useful for automaticallyfollowing up on pre-defined activities. A key attribute of theproduction and scheduling module is it's ability to remember a virtuallyunlimited number of users and user sales program(s) and implement avirtually unlimited number of instructions for the system to begin workat any point in the future.

The Sales and Financial Report And Analysis Module

The sales & financial report and analysis module (“sides module”)assembles, calculates and outputs sales, test, financial and projectedearnings reports. This can be done on a real-time basis with thepreferred embodiment and method.

A flow chart which illustrates the organization and flow of the salesand financial report and analysis module is shown in FIG. 12. As shownin that illustrative diagram, Step A involves receiving salesinformation based on sales of financial products actually made. In StepB, these sales results are inputted into the system, manually, byscanning, or by other methods described above which regard to the datainput module. In Step C of FIG. 12, these results are stored andorganized in a sales database resident in the database module.

The sales report module analyzes and evaluates this sales data, e.g., bysegregating and compiling it in formats and statistical summaries usefulin management. Once calculated, compiled, etc., the data may beincorporated into and reported as sales reports, as reflected in Step Eof FIG. 12. These reports may be cumulative in nature or they may benon-cumulative, essentially reflecting snapshots in time. The reportsalso may be interactive or non-interactive, depending on the formatselected, the output mode, etc. The reports may be provided to systemusers, management, etc. These reports also may be used in digital orautomated form to interact automatically with other modules of thesystem, for example, the Virtual Agent™ module.

The sales reports may compile such information as sales demographics,penetration, etc. They may reflect such statistics on several basics,such as sales submitted, the number of sales actually placed, aspolicies and the number of sales which resulted in falloff (for which nopolicy was issued or taken).

The sales module also is adapted to generate financial reports. Thesefinancial reports also may reflect sales on a submitted, placed, and orfalloff basis. They may be incorporated with other data to reflectactual and/or projected earnings reports, commission reports, and thelike.

The Telemarketing Module

The system also supports a telemarketing function using thetelemarketing module. An illustrative flow chart which outlines theorganization and flow of the telemarketing module is shown in FIG. 13.In accordance with that flow chart, the operator would log on to thesystem and thereby gain access to it. Communications between theoperator and clients would take place, for example, through inbound oroutbound calls. For existing clients for whom a client record exists inthe client database, that record would be retrieved and editedappropriately. Where no client record exists, a new one would be createdas reflected in FIG. 13. In both instances, information would be enteredinto the system so that the client record reflects the appropriateclient information. When this task is complete, the call isdisconnected. At this stage, the operator may instruct the system, e.g.,to schedule an input the client record for processing in the core systemto generate a presentation letter. To create a record of thecommunication the operator would complete the compliance note pad toreflect the conversation and the events which occurred during it.

The Automated Agency And New Business Module

This “new business” module supports the processing for new business. Theautomated agency portion of this module supports the future policyholder service and insurance need of the client automatically. Flowchart reflecting the organization and logic of this module is shown inFIG. 14.

Referring to FIG. 14, as sales are made the sales information isreceived by the system user. The sale results are inputted, for example,by scanning, or by other input means, e.g., as disclosed in thediscussion of the data input module. As new sales are made acorresponding client record is created in this module. The moduleautomatically creates a “thank you” notification, which isparticularized for that particular client. It confirms the products thathave been purchased and the corresponding coverage. Theautomatically-generated communications also lists any outstandingrequirements the client needs to execute to obtain product.

In addition to generating a confirming notice to the client, the systemalso manages the tasks, if any which correspond with sales and newbusiness. As reflected in FIG. 14, such followup tasks may includesending submission materials to the product provider, processing the newbusiness, e.g., from an accounting perspective, attending to functionrelating to issuance of the policy, placement functions, etc. Clientrecords and other system files are updated as appropriate to reflect thesales, the correspondence of the client, etc.

In performing these tasks, it may be necessary in some instances toundertake additional communications, which may implicate thecommunications and interface module. These communication may berequired, for example to order medical examinations, to order attendingphysicians statements, and to obtain all other information pertaining tothe client as required under the circumstances. This module willfollow-up on these requirements automatically with no humanintervention.

Additional advantages and modifications will readily occur to thoseskilled in the art. Therefore, the invention in its broader aspects isnot limited to the specific details, representative devices, andillustrative examples shown and described. Accordingly, departures maybe made from such details without departing from the spirit or scope ofthe general inventive concept as defined by the appended claims andtheir equivalents.

1. (canceled)
 2. A method of generating a set of personalizedcommunications for a plurality of persons, the method comprising thesteps of: with a computer system, automatically: successively generatinga communication for each of a plurality of persons, the communicationseach comprising an identifying section adapted to present identifyingcontent to distinguish each person from other persons of the pluralityof persons, and a personalized section adapted to present at least somepersonalized content relating to an offering for each person, whereinthe generating a communication includes accessing a computer-accessiblestorage medium to determine at least part of the personalized contentrelating to the offering from at least one set of alternativedescriptions, characteristics and/or identifications associated with theoffering; and wherein at least one personalized content generated for afirst person's communication is different from a second personalizedcontent generated for a second person's communication.
 3. The method ofclaim 2, wherein the set of alternative descriptions, characteristicsand/or identifications includes separate respective word sentences. 4.The method of claim 2, wherein the communication is part of an ongoingservice provided by a sender of the communication to the person.
 5. Themethod of claim 2, wherein the personalized content contains complianceand/or regulatory information.
 6. The method of claim 2, wherein theoffering is for two or more products or services.
 7. The method of claim2, wherein the offering is the same for two or more of the plurality ofpersons.
 8. The method of claim 2, wherein each communication is viewedas multiple pages.
 9. The method of claim 2, wherein the generating acommunication includes selecting a format from a plurality of formats touse for the communication.
 10. The method of claim 2, wherein eachcommunication includes a reply section with instructions informing aperson on how to reply to the offering.
 11. The method of claim 10,wherein the reply section includes personalized content specific to theperson.
 12. The method of claim 2, further comprising automaticallygenerating with the computer system one or more subsequentcommunications to a person based on a set of predetermined criteriaapplied as a result of a reply received from, or a non-reply by, theperson.
 13. The method of claim 2, further comprising selecting a subsetof persons from a database of available persons and successivelygenerating the communications for the plurality of persons defined bythe selected subset of persons.
 14. The method of claim 2, wherein thegenerating a communication further includes determining one or moreproducts or services to offer to the person.
 15. A method of generatingpersonalized communications for a plurality of persons, the methodcomprising the steps of: with a computer system, automatically:successively generating a communication for each of a plurality ofpersons, the communications each comprising a general portion and apersonalized portion relating to an offering for each person, whereinthe general portion includes general content communicated to theplurality of persons and the personalized portion includes personalizedcontent for a person for which a particular communication is generated,wherein the generating a communication includes accessing acomputer-accessible storage medium to determine at least part of thepersonalized content relating to the offering from at least one set ofalternative descriptions, characteristics and/or identificationsassociated with the offering; and wherein at least one personalizedcontent generated for a first person's communication is different from asecond personalized content generated for a second person'scommunication.
 16. An apparatus for generating a set of personalizedcommunications for a plurality of persons, the apparatus comprising: acomputing system; a computer-accessible storage medium coupled to thecomputing system; computer software executing on the computing systemand adapted to: successively generate a communication for each of aplurality of persons, the communications each comprising an identifyingsection adapted to present identifying content to distinguish eachperson from other persons of the plurality of persons, and apersonalized section adapted to present personalized content relating toan offering for each person, wherein the generating a communicationincludes accessing the storage medium to determine at least part of thepersonalized content relating to the offering from at least one set ofalternative descriptions, characteristics and/or identificationsassociated with the offering; and wherein at least one personalizedcontent prepared for a first person's communication is different from asecond personalized content prepared for a second person'scommunication.
 17. The apparatus of claim 16, wherein the set ofalternative descriptions, characteristics and/or identificationsincludes separate respective word sentences.
 18. The apparatus of claim16, wherein the communication is part of an ongoing service provided bya sender of the communication to the person.
 19. The apparatus of claim16, wherein the personalized content contains compliance and/orregulatory information.
 20. The apparatus of claim 16, wherein theoffering is for two or more products or services.
 21. The apparatus ofclaim 16, wherein the offering is the same for two or more of theplurality of persons.
 22. The apparatus of claim 16, wherein eachcommunication is viewed as multiple pages.
 23. The apparatus of claim16, wherein the generating a communication includes selecting a formatfrom a plurality of formats to use for the communication.
 24. Theapparatus of claim 16, wherein each communication includes a replysection with instructions informing a person on how to reply to theoffering.
 25. The apparatus of claim 24, wherein the reply sectionincludes personalized content specific to the person.
 26. The apparatusof claim 16, further comprising automatically generating with thecomputer system one or more subsequent communications to a person basedon a set of predetermined criteria applied as a result of a replyreceived from, or a non-reply by, the person.
 27. The apparatus of claim16, further comprising selecting a subset of persons from a database ofavailable persons and successively generating the communications for theplurality of persons defined by the selected subset of persons.
 28. Theapparatus of claim 16, wherein the generating a communication furtherincludes determining one or more products or services to offer to thepersons.
 29. An apparatus for preparing personalized communications fora plurality of persons, the apparatus comprising: a computing system; acomputer-accessible storage medium coupled to the computing system;computer software routines executing on the computing system and adaptedto: successively generate a communication for each of a pluralitypersons, the communication comprising a general portion and apersonalized portion relating to an offering for each person, whereinthe general portion includes general content communicated to theplurality of persons and the personalized portion includes personalizedcontent for a person for which a particular communication is generated,wherein the generating a communication includes accessing acomputer-accessible storage medium to determine at least part of thepersonalized content relating to the offering from at least one set ofalternative descriptions, characteristics and/or identificationsassociated with the offering; and wherein at least one personalizedcontent generated for a first person's communication is different from asecond personalized content generated for a second person'scommunication.